Project with Crometal
19º loan for Crometal. The cooperative is going to use the loan to exchange post-dated checks for cash in order to pay some accounts and member's salaries which would, otherwise, have to be paid too late and with a fine. This way thanks to La Base, the cooperative can make use of the money they have made with their production, without waiting for the check to be cashed. | |
Crometal is a recovered factory, a cooperative, wich produces industrial scaffolding and shelves. The former company, Acrow, was well known in this specfici markets.
During the last 18 loans the cooperative and The Working World/La Base have nurtured a strong relationship of deep trust. Since La Base/The Working World started working with them in 2005 they have grown their production significantly, improved their productivity and they have doubled the amount of workers from 18 to 35. The new level of production has meant new challenges at every new step towards a bigger | scale of production. This has also meant La Base has sometimes not been able to fully satisfy this needs but has always found the way to make the solutions easier.
Right now the cooperative is suffering the consequences of the crisis which has also affected the big companies which would usually be their clients. The kind of demand they satisfy is more related to companies that are investing to expand. Also the payments have been delayed causing cashflow problems. The wirs of the crisis now seems to be behind and they seem to be moving towards a more stable period. |
| Name | Crometal |
| Signing Date | August 21, 2009 |
| Loan Amount | AR$28,767 |
| Repayment Schedule |
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